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New LTC Law in Washington and Effects on LTC Business
We recently shared an article about how Washington State became the first state to implement a state tax for long-term care coverage. Since the announcement, long-term care applications have skyrocketed. As a result, LTC carriers are experiencing major delays in case processing. Mutual of Omaha put out the below update in June to this effect.
Some carriers, including John Hancock and OneAmerica, are starting to limit and temporarily suspend applications for LTC policies and riders in Washington.
View the John Hancock LTC Rider announcement here.
View the OneAmerica Asset Care announcement here.
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New Competitive Rates from PacLife
Effective July 9, 2021 Pacific Life is coming in even stronger with new PL Promise Term rates.
Solid competitive strengths:
- Substandard pricing (+20% per table versus the traditional +25%)
- Monthly Premium mode (monthly premiums)
- Accelerated and fluidless underwriting options
- eCapabilities and digital solutions resulting in shorter cycle times and higher placement rates


Banner’s Next Term Expiry Program Launching June 22
Banner\’s Term Expiry Marketing Campaign is a direct mail program targeting Banner Life policyholders with policies between 4 and 9 months from the end of the level term period. Eligible customers will receive a letter giving them the opportunity to call and receive a review and quote.
All resulting sales will be commissionable to the current active servicing agent.
Since the start of the program in 2020, Banner has generated over $900,000 of commission for agents while helping clients maintain coverage.


Enhancements to Banner’s Automated Underwriting Rules
Banner Life’s Automated Underwriting program continues to evolve for even faster decisions, without exams. Recently, they’ve updated the reflexive application questions to reduce the need for underwriting review for certain conditions.
- Reduced need for underwriting review for Basal and Squamous Cell Carcinoma
- Simplified rules to minimize postponements for high Cholesterol cases
- More opportunity for exam and APS-free decisions for Diabetics
Other updates:
In May, Banner announced that Electronic Health Records (EHRs) have been added to the platform, so medical records will move more quickly. Learn more.
Get More, Get Less – Advisors can now customize face amount, product and billing frequency for clients in real time. Learn more.


Introducing Lab-free Coverage up to $2M with PacLife
On May 17th, 2021, Pacific Life announced their new accelerated underwriting process for term life insurance—PL Swift Sailing. You can now offer your clients ages 18-60 up to $2 million in coverage with swifter decisions and a streamlined digital process that can help you provide an improved customer experience, without lab testing, needles, fluids, or medical records.


ISSUE’s Summer eApp Contest
Times are changing. Technology, like us, is evolving, and the way we do life insurance business is evolving too. Now more than ever, people are taking advantage of (and preferring) electronic methods over paper ones. The USPS has been experiencing delays in various parts of the country. This makes e-Signatures and electronic payment options paramount to a pleasant experience for clients in today’s world.
Carriers have made it easier than ever to get on board the digital train. Most, if not all, of our carriers now offer electronic application options through ExpressComplete and/or iGo. Additionally, premiums can be paid and policies can be issued electronically—saving time and money. Many of you are already taking advantage of the speed and simplicity of these methods. We want to encourage you to continue to do so.
This summer, from Memorial Day through Labor Day, ISSUE is hosting a Summer eApp Contest. For every eApp (including drop tickets, long iGo eApps, and Docusigned apps) paid with electronic funds and issued via eDelivery, you will receive a $5 Starbucks gift card. Plus, for each qualifying eApp, your name will be thrown in for a drawing to win a pair of Apple Airpod Pros at the end of the Summer. There are no limits to this contest. The more qualifying eApps you submit and place, the more free Starbucks and raffle entries.
The winner will be announced Friday, September 10th, 2021.
May the eOdds be ever in your favor.


Local: (937) 890-4991 Toll Free: (800) 762-7500 Fax: (937) 890-1909